NYU.edu requires JavaScript be enabled in your browser in order to use important features of the site. JavaScript is either disabled or not supported by your browser. For instructions on how to enable JavaScript in your browser, click here.

Click on the link "Complete Master Promissory Note." The link "View What You Need" lists the information need to complete the MPN. Be sure to select the correct loan type for which you need to complete the MPN.

Graduate PLUS Loan borrowers must sign a separate MPN for the PLUS loan in addition to the MPN for the Direct Subsidized/Unsubsidized Loans.

Please note: If one or more of these steps are missing or the student did not choose the correct parent borrower selection, then this will delay in processing of the Parent Plus loan. Please have your student check his NYU Student Center ‘To Do’ list periodically to see what may be outstanding or missing. Also, it is required that students maintain at least half-time enrollment in order to retain eligibility for all federal loans, including the Parent PLUS Loan.

INSTRUCTIONS FOR STUDENTS AND THEIR PARENT PLUS LOAN BORROWERS:

After you click ‘Accept’ for the Parent PLUS Loan, you will be able to click on the “Select Your Parent“ link. You will be taken to a new screen and will be asked to Specify a PLUS Borrower.

To use an existing parent borrower, select “Yes” for the Use Existing Parent field.

Click on the magnifying glass. This will locate any parent you have previously used for the Plus Loan who has completed a PLUS Request form on StudentLoans.Gov. If you wish to use that existing parent, select their ID and click 'YES'. This parent will receive an email confirming their information.

To use a new parent borrower, select “Yes” for the Indicate a New Borrower field.

You will be prompted to enter in your parent borrower’s email address. Make sure it is their personal email address and not your own. Click ‘OK’. The parent’s email address will appear as the Parent PLUS Loan contact for the new loan and they will be sent instructions to follow to secure the loan. The instructions will state that the New Borrower must complete a PLUS Request and a PLUS Loan MPN on StudentLoans.Gov.

2. Parent borrowers who have never completed a PLUS Request must request a Direct PLUS Loan on StudentLoans.Gov.

Click on the link “Request a Direct PLUS Loan.” Be sure to select the Parent PLUS option on the next page.

You will be asked to choose the Award Year for which you are completing the PLUS Loan Request. If you are unsure whether your first PLUS Loan will be a part of the 2013-2014 award year or the 2014-2015 aid year, please have your student check their financial aid award package on their Albert account. You may also contact us.

4. The parent borrower must confirm the amount of PLUS Loan that you wish to be disbursed.

Once the Office of Financial Aid has received verification of your credit approval for the Parent PLUS Loan, you will receive an email from the NYU Office of Financial Aid containing instructions and a link to the PLUS Loan Confirmation page.

Click the link provided in the email and there, you will be required to answer some identifying questions and confirm the loan amount.

Please note: If one or more of these steps are missing or the student did not choose the correct parent borrower selection, then this will delay in processing of the Parent Plus loan. Please have your student check his NYU Student Center ‘To Do’ list periodically to see what may be outstanding or missing. Also, it is required that students maintain at least half-time enrollment in order to retain eligibility for all federal loans, including the Parent PLUS Loan.

Each loan type (undergraduate/graduate Federal Direct Loan, Federal Direct Parent PLUS Loan and Graduate PLUS Loan) requires its own Master Promissory Note, or MPN, and Entrance Counseling (except Parent PLUS). So, if your increase is to an existing loan type you do NOT need to complete the MPN and Entrance Counseling again. However, you will still need to accept your increase on NYU Albert. If your increase or additional loan is a loan type you were not previously awarded, you WILL need to complete the MPN and Entrance Counseling (except Parent PLUS) in addition to accepting it on NYU Albert.

Once you accept your loans on NYU Albert,
sign your MPN, and complete Entrance Counseling, credit is then posted
to your account. The credit is provisional and does not change to real
credit until 10 days before the start of the loan period.

Within 120 Days of Disbursement:You have the right to
cancel all or part of any disbursement of a Federal Direct Loan without
being charged interest and other loan fees as long as the cancellation
is processed within 120 days of the original disbursement date. The
disbursement date is the date the funds were applied to your NYU Bursar
bill during any given semester.

To request a cancellation, you must make your request through the NYU Bursar’s Office by completing a Request to Return Loan Funds Form and submitting it to the Bursar as instructed on the form.

More Than 120 Days After Disbursement:If
you wish to cancel all or part of any disbursement of your loan more
than 120 days after it was disbursed, you are actually repaying part of
your loan and you must pay any accrued interest and/or fees. You cannot
cancel your loan, but you can make a payment directly to your federal
loan servicer. Borrowers are assigned to one of the five servicers,
which include ACS, Great Lakes, NelNet, PHEAA, and Sallie Mae. If you
are not sure which of the five centers is your assigned servicer, visit
and log into the federal government’s National Student Loan Data System to determine your servicer. You may also call 1-800-4-FED-AID to locate your servicer.

Loan refunds are administered through the Office of the Bursar,
and there are important elements to consider if you are anticipating a
credit balance. For example, because your loans can not be released to
NYU before your designated disbursement date, and because once they are
disbursed certain basic enrollment criteria must first be verified (e.g.
you normally must be enrolled for at least 6 points) before the loan
amount is applied to your account balance, a refund resulting from your
student loan will usually not be confirmed and processed until a few
days after your disbursement date.

IMPORTANT for Summer students:
Please note that if you are eligible for loans in the summer, those
loans do not disburse until July 1, and for those eligible for a refund,
you should not rely on those funds until at least one week after
disbursement.

If the parent borrower is not initially approved for a Federal PLUS Loan, they will receive an endorser packet directly from the U.S. Department of Education. This packet explains that a PLUS Loan may still be acquired if someone else with an acceptable credit rating -- such as the parent applicant's spouse, a relative, or friend -- agrees to endorse or cosign the loan. Contact Direct Loans Applicant Services at 1-800-557-7394 for additional instructions for endorsers.

Parents also have the option to appeal the Department of Education’s PLUS denial. For instructions on how to appeal, please contact the Department of Education’s Applicant Services at 1-800-557-7394.

Please note that if the parent borrower receives the Federal PLUS Loan based on a credit-worthy endorser, the PLUS Master Promissory Note (MPN) that the parent completed will expire with that endorsed loan. A new PLUS MPN will be required for any subsequent PLUS Loan for which the parent applies.

The U.S. Department of Education does not inform the NYU Office of Financial Aid about the specific reason for the denial of a Federal PLUS Loan. To appeal for reconsideration, contact the Direct Loan Origination Center toll-free at 1-800-557-7394.

In the event a denial is final, the student may contact the Office of Financial Aid to request consideration for an additional Federal Direct Unsubsidized Loan. Freshman and Sophomores may be eligible for a maximum of $4,000 in additional funds, and Juniors and Seniors may be eligible for a maximum of $5,000 in additional funds. Please note: if at a later time during the academic year a parent becomes eligible or is approved with a co-signor for a Parent PLUS loan, the additional Unsubsidized Loan will be canceled.

Usually, this occurs when the subsidized and/or unsubsidized loans have not yet originated. Origination means that your loan data is being sent to the Department of Education for processing. The checklist item for the MPN will not update to a received status until the loan(s) successfully originate.

No, your completed Undergraduate Entrance Counseling session can be used for your loans at NYU. However, you must contact NYU’s Office of Financial Aid to let us know. Otherwise, we would not know that you ever completed one in the past and your Entrance Counseling checklist item on your Albert To Do list would stay in a requested status. Once we confirm that a counseling session was completed previously we will update your NYU records.

You, the student, must start the process by accepting the offered Federal Direct Parent PLUS Loan on your Albert account. You can do so by logging in to Albert and then clicking on the Accept/Decline Financial Aid link and following the instructions.

Your parent borrower will be asked to complete the Federal Direct PLUS Loan Request and Master Promissory Note by visiting the Direct Loan Web site at www.studentloans.gov. They must sign in using the same PIN number that was assigned to them to access your FAFSA. If they do not remember their PIN, they may request a duplicate from the Official PIN site.

The U.S. Department of Education will conduct a credit check that is valid for only 90 days. Your parent borrower should not apply more than 90 days before the start of fall semester to avoid credit expiration.

Shortly after the PLUS Loan originates to the Department of Education, an email from the NYU Office of Financial Aid will be sent to the parent borrower (only if the PLUS Loan was credit approved). The approved parent must complete the PLUS Loan process by logging in to the NYU Student System as instructed in this email and by providing the dollar amount of the Parent PLUS Loan that is desired and the parent must actively accept the PLUS Loan on the same page.

Federal regulations require a parent borrower to actively accept each Parent PLUS Loan and indicate the final amount they wish to accept for each loan. The email with instructions on completing the final PLUS Loan confirmation is sent to the parent borrower after the loan has been originated and we are in receipt of the approved credit decision. This is your parent borrower’s opportunity to accept the loan for the amount that was originated or reduce the amount if they do not need the entire loan.

For subsequent PLUS Loans in your undergraduate career, your parent borrower may not be required to complete a new PLUS Loan Request on www.studentloans.gov, but they will be required to complete the final PLUS Loan confirmation process through our site.

No, if your parent borrower has already completed a PLUS Loan MPN for any school (without an endorser) they do not have to complete a new one.

. . . they already did one for my PLUS loan from last year?

No, if your parent borrower was credit approved on their own for a Federal Direct PLUS Loan in a previous semester or year they do not have to complete a new one.

. . . their previous PLUS Loan was approved with an endorser (co-signer)?

Yes, if their previous PLUS Loan required an endorser for credit approval they must complete a new Master Promissory Note for the next PLUS Loan. This is because each endorsed (co-signed) Parent PLUS Loan must have its own MPN – the MPN for an endorsed loan cannot be used for any subsequent loan.

Yes. Parent borrowers have the right to cancel all or part of any disbursement of a federal Parent PLUS Loan without being charged interest and other loan fees as long as the cancellation is processed within 120 days of the original disbursement date. The disbursement date is the date the funds were applied to your NYU Bursar bill during any given semester.

To request a cancellation, they must make the request through the NYU Bursar’s Office by completing a Request to Return Loan Funds Form and submitting it to the Bursar as instructed on the form.

If they wish to cancel all or part of any disbursement of their loan more than 120 days after it was disbursed, they are actually repaying part of their loan and they must pay any accrued interest and/or fees. They cannot cancel their loan, but they can make a payment directly to your federal loan servicer. Borrowers are assigned to one of the five servicers, which include ACS, Great Lakes, NelNet, PHEAA, and Sallie Mae. If they are not sure which of the five centers is their assigned servicer, visit and log into the federal government’s National Student Loan Data System to determine their servicer. They may also call 1-800-4-FED-AID to locate your servicer.